No business owner needs all that! It could all lead to a massive financial loss. That's why it's better to just stay out of trouble with SARS.

Here are the two most important rules to do this...

Follow these two rules to stay out of trouble with SARS

Rule #1: Always be honest with SARS

It's vitally important that you're always honest about your company's finances when you deal with SARS. If you try to hide money or avoid tax and it finds out, you may face tax evasion or avoidance charges.

These charges are very serious and could send your company into financial crisis. Rather disclose all of your taxable income and let SARS take what it needs.

Never try to claim a tax deduction or allowance that you don't qualify for. If you do and SARS picks it up, it could trigger a SARS audit. If the audit findings are unfavourable, you'll face serious fines.

You need to check all of the rules regarding qualifying for tax deductions and allowances (you can find these rules in the Practical Tax Loose Leaf Service) and then work out the deductions correctly.

If you follow these two rules you'll be able to stay out of trouble with SARS and avoid any costly punishments.

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